New Delhi: Prime Minister Narendra Modi today addressed a post-budget webinar on “Technology, Reforms, and Finance for a Developed India.” In it, he described the national budget as a long-term policy roadmap rather than a short-term trading document.
The Prime Minister emphasized that every budget is a step towards the larger goal of “building a developed India by 2047.” He said that budget decisions related to infrastructure enhancement, ease of doing business, and transparency in governance provide lasting strength to the country’s economy. The impact of the budget should also be based on strong parameters. PM Modi said, “Policies that enhance infrastructure, ease the flow of credit, improve ease of doing business, enhance transparency in governance, make people’s lives easier, create new opportunities for them, and budget decisions related to these should provide lasting strength to the economy.”
The Prime Minister said that the country is currently “riding the reform express” due to the determined reforms implemented over the past decade. He emphasized that the government has simplified processes to improve flexibility and promoted technology-based governance. “To maintain this momentum, we must focus not only on policy intent but also on delivery excellence. Reforms should be appreciated not on the basis of announcements, but on their impact on the ground.”
He said, “We must use AI, blockchain, and data analytics extensively to increase transparency, speed, and accountability. We must also continuously monitor the effectiveness of the grievance redressal system.”
The Prime Minister pointed to a major shift in public capital expenditure. “Eleven years ago, the budget for public capital was around Rs 2 lakh crore. In the current budget, it has increased to around Rs 12 lakh crore. This massive government investment sends a clear message to the private sector. Friends, now is the time for industry and financial institutions to move forward with renewed energy.” PM Modi called for more innovation in financing models and stronger collaboration in emerging sectors. He suggested that “we need to strengthen the quality of project approval processes and appraisals” to prevent wastage and delays through sound cost-benefit analysis.
Discussing the financial sector, the Prime Minister elaborated on efforts to make the foreign investment framework more reliable and investor-friendly. He said that steps are being taken to make the bond market more dynamic to improve long-term finance.
“We are simplifying the foreign investment framework. We are trying to make the system predictable and investor-friendly. We are also taking steps to make the bond market more dynamic to improve long-term finance. The process of buying and selling bonds is being simplified. PM Modi said, “Friends, we must view bond market reforms as conducive to long-term growth. We must increase anticipation and liquidity.”
He said, “We must view bond market reforms as a catalyst for long-term growth,” and added that to attract continued foreign capital, “we must introduce new instruments and effectively manage risks.” PM Modi proposed creating a “clear reform partnership charter” as a joint venture between the government, industry, financial institutions, and academia.
He urged stakeholders to focus on implementing the budget immediately rather than further discussing its content. “The objective is to implement the budget as quickly as possible,” the Prime Minister said. “The objective is not to discuss the budget. The objective is to implement the budget as quickly as possible. The objective is to implement the budget in the easiest possible manner.” He added, “And all stakeholders should benefit from this budget. They should be involved. If you keep this in mind, if you discuss it, this webinar will truly open the door to a vibrant economy.”
